SPX weekly preview with DXY Gold and USOIL on the side
ok another weekly preview of these particular instruments. We're in an interesting point on all of them as you can see in the video. The SPX bias is up but watch for possible reversal this week as the Weekly RSI is at a resistance point. DXY retesting it's channel boundary again, Gold had a breakout but needs to hold over 1870 to continue, USOIL looks like consolidation before another move down but up to 81 -2 can come first.
Komen:
Good morning, so far overnight looks like a triangle continuation - bull pennant. I expect further upside.
Komen:
potentially this structure may get retested at higher highs - we'll see.
Komen:
they are just chopping up both sides today, triangle still holds.
Komen:
Good morning, 50 weekly ma is at 4036, I expect it to be reached today
Komen:
USOIL to 18 weekly ma, that's an objective short although it could push up to 83 area.
Komen:
Potential support here, it would not surprise me if this fast move down is bought and we get another high. Tomorrow is jobs numbers, so be careful.
Komen:
200 ma on daily is close (purple line) I'm sure many will be watching to see if it holds today.
Komen:
oil retracing from 82-3 area.
